Bank
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5 — Paper Money and Credit in Early Trade (7th – 15th Century)
Part C — Paper Money and the Rise of Banking The emergence of paper money and early credit systems represents a significant evolution in monetary history, transitioning from tangible metal coins to more abstract, representative forms of value. Economic Context Origins and Development of Paper Money Functions of Paper Money…
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6 — The Development of Modern Banking (15th – 18th Century)
Part C — Paper Money and the Rise of Banking The period from the 15th to 18th centuries witnessed the formalisation of banking institutions and monetary practices, laying the foundations for modern financial systems. This era saw the rise of centralised banks, fractional reserve banking, and state-backed currencies. Economic Context…